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The apparent lack of USD momentum is providing
opportunities for the Asians ex-Japan to strengthen after being in
range-bound trades recently. The rise in the ADXY (Asia dollar) index is
reflecting this after hovering around the 105.45 levels for the past few
sessions. As for the USDJPY, it continues to climb higher back above the
112-handle after the yield differentials between the UST and JGB widened
with the rise in the 10Y UST above 2.33% levels and the 10Y JGB at 0.021%
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